SBI to use blockchain for smart contracts and KYC by next month

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Summary

India's largest lender State Bank of IndiaBSE -2.83 % will roll out beta launches of blockchain-enabled smart contracts by next month, according to Sudin Baraokar, head of innovation, SBI. Read more at://economictimes.indiatimes.com/articleshow/61715860.cms?utm_source=contentofinterest&utm_medium=text&utm_campaign=cppst

Product description

BankChain was formed in February with State Bank of India being the first member. It now has 22 Indian banks, including ICICI Bank, DCB Bank and Axis BankBSE -4.28 %, and five Middle East-based banks. BankChain has tied up with Pune-based startup Primechain Technologies to create these solutions.